Sheets Smith Investment Management Purchases New Position in Toast, Inc. (NYSE:TOST)

Sheets Smith Investment Management acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 43,489 shares of the company's stock, valued at approximately $1,585,000. Toast makes up approximately 1.3% of Sheets Smith Investment Management's investment portfolio, making the stock its 24th biggest position.

Several other institutional investors have also modified their holdings of TOST. Vanguard Group Inc. grew its stake in Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Toast during the fourth quarter worth approximately $4,928,000. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Toast by 77.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 43,596 shares of the company's stock valued at $1,589,000 after acquiring an additional 19,063 shares during the period. Sei Investments Co. raised its position in Toast by 48.3% in the 4th quarter. Sei Investments Co. now owns 818,357 shares of the company's stock valued at $29,829,000 after purchasing an additional 266,471 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Toast by 330.0% during the 4th quarter. American Century Companies Inc. now owns 335,965 shares of the company's stock worth $12,246,000 after purchasing an additional 257,831 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

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Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the transaction, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock worth $9,409,211 over the last ninety days. 13.32% of the stock is currently owned by corporate insiders.

Toast Stock Down 1.6 %

Shares of Toast stock traded down $0.56 on Thursday, hitting $35.41. The company's stock had a trading volume of 1,391,669 shares, compared to its average volume of 6,566,200. The firm has a fifty day moving average price of $37.85 and a 200-day moving average price of $35.32. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market capitalization of $17.49 billion, a P/E ratio of -3,537.46, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. As a group, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Toast in a report on Thursday, December 5th. BNP Paribas set a $37.00 target price on Toast and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their price target on Toast from $25.00 to $30.00 and gave the stock an "underweight" rating in a research note on Thursday, January 16th. BMO Capital Markets lifted their price objective on shares of Toast from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Toast in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Toast has a consensus rating of "Hold" and an average price target of $40.48.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.